Blake Worked 40 Hours This Week but Was Paid for 45

question 72

Multiple Choice

Blake worked 40 hours this week but was paid for 45 hours.Blake is paid under a(n) __________ plan.

• A)bonus
• B)commission
• C)merit pay
• D)standard hour
• E)exit pay

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Definitions:

Management Accountants

Professionals specializing in accounting who analyze financial information to advise business strategy and financial management.

Generally Accepted Accounting Principles (GAAP)

A set of rules and standards for financial reporting commonly used in the United States.

Globalization on Business

The impact of increasing global interconnectivity on business operations, including expanded markets, diversified supply chains, and increased competition.

Just-In-Time (JIT)

A supply chain management strategy that aims to reduce inventory costs by receiving goods only as they are needed in the production process.